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Cushman & Wakefield Negotiates $30 Million Sale Of Scottsdale Financial Center III
8 Jun, 2005, Scottsdale, AZ
Cushman & Wakefield of Arizona, Inc. has negotiated the $30,000,000 sale of Scottsdale Financial Center III, 7272 E. Indian School Rd.
Constructed in 1985, the office building contains 150,638 square feet of space. At the time of the sale, the property was 94% leased to tenants such as The Colony Group and Tri-Core Engineering, LLC.
KBS Realty Advisors of Newport Beach purchased the building from San Francisco-based Aitchison Family Properties.
"This high quality office property is ideally located in the heart of Central Scottsdale," says Chris Toci, senior director with Cushman & Wakefield of Arizona, Inc. "Its distinctive brick architecture blends very well with Old Town while the building holds all of the appealing amenities that attract today's corporate tenants. The Central Scottsdale submarket continues its strong performance, making this a great investment opportunity. Approximately $1.4 billion of public and private capital has been allocated for development or re-development within Downtown Scottsdale."
Toci and Brian Ackerman of the Cushman & Wakefield Phoenix office worked with J. Russell Sherman and Christopher Aust of the Cushman & Wakefield San Francisco office on the sale transaction.
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Cushman & Wakefield is the world's largest privately held real estate services firm. Founded in 1917, the firm has 175 offices in 50 Countries around the globe, and 11,000+ talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. C&W also provides valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133.
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Contact: Robin Vitols
(602) 957-8844
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